KSBTC program fuels the creation of new jobs

Gov. Andy Beshear

FRANKFORT, Ky (WEHT) – Small businesses have once again helped Kentucky’s economic situation.

On December 28, Gov. Andy Beshear announced the Kentucky Small Business Tax Credit (KSBTC) program fueled the creation of 339 new jobs and the reinvestment of $3.64 million in 107 businesses. “We know Kentucky’s small businesses are strong and resilient, as we have seen them contribute so much to our economy over the past year,” Gov. Beshear said. “This further proves that we are just getting started, on the heels of breaking our state’s economic development records. I’m glad business owners and entrepreneurs are using the KSBTC program to create more jobs for Kentuckians and grow their operations to new heights, as their impact on communities will last for many generations to come.”

The KSBTC program incentivizes companies with 50 or fewer full-time employees that hire and sustain at least one new job and purchase at least $5,000 in qualifying equipment or technology. Applicants can receive between $3,500 and $25,000 in credits annually.

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